Cointelegrats
XRP flips Ether’s FDV amid change in market dynamics
XRP’s fully diluted valuation (FDV) has surpassed Ether (ETH), according to March 14 data from CoinGecko. The FDV flip signifies a reversal of fortune for both layer-1 (L1) blockchain networks behind the tokens, as XRP Ledger’s decentralized finance (DeFi) ecosystem gains traction and Ethereum grapples with competition from rival L1s, such as Solana. As of March 14, XRP’s FDV stood at nearly $235 billion, more than $1 billion higher than Ether’s, according to CoinGecko. Ether’s market capitalization still leads at $233 billion versus XRP’s $136 billion, the data shows. FDV measures the cumulative value of all existing tokens, whereas market capitalization only counts tokens already in circulation. XRP’s developer, Ripple Labs, holds a multibillion-dollar allocation of its chain’s native token. Cryptocurrencies by FDV. Source: CoinGeckoRelated: XRP Ledger unveils institutional DeFi roadmap Changing fortunes XRP’s price has risen by more than 300%, to around $2.3 per token, since President Donald Trump prevailed in the US elections on Nov. 5. Trump said he wants America to become the “world’s crypto capital” and has appointed industry-friendly leadership to key regulators. The thawing US regulatory environment is especially beneficial for XRP, which prioritizes enterprise users and unveiled an institutional DeFi roadmap in February. As of January, XRP’s native decentralized exchange (DEX) has handled more than $1 billion in swap transactions since launching in 2024. The XRP token saw further support when Trump said he planned to include XRP in a proposed US Digital Asset Stockpile alongside other cryptocurrencies, such as Solana (SOL) and Cardano (ADA). The stockpile will only comprise assets acquired by law enforcement and other legal proceedings and will not buy crypto. The US Securities and Exchange Commission is reportedly “in the process of wrapping up” an enforcement action against Ripple that has beleaguered the XRP developer since 2020. The regulator has already dropped actions against crypto firms such as Coinbase, Kraken and Uniswap. Meanwhile, Ether’s spot price has struggled since March 2024, when the network’s Dencun upgrade cut transaction fees by approximately 95%. As of March, trading volume on Solana, which prioritizes fast transaction execution and was central to 2024’s memecoin frenzy, rivals that of Ethereum and all of its layer-2 scaling chains combined. Magazine: ‘Hong Kong’s FTX’ victims win lawsuit, bankers bash stablecoins: Asia Express
Published on 3/14/2025 at 7:16:55 PM
CoinTelegraph
‘Scale or fail’: RLNC technology can boost Web3 adoption — MIT Professor
After 15 years of research at the Massachusetts Institute of Technology (MIT), Random Linear Network Coding (RLNC) is ready for commercialization in the Web3 industry, according to Muriel Médard, an MIT professor and founder of blockchain infrastructure developer Optimum. Optimum emerged from stealth on Feb. 28 as a decentralized memory infrastructure that can be utilized by any blockchain seeking to bring scalability to Web3. It utilizes the RLNC technology that was first formulated by Professor Médard. RLNC is a breakthrough in coding that is already used in the 5G, satellite telecommunications and Internet of Things (IoT) industries. In an interview with Cointelegraph, Professor Médard said RLNC is equivalent to “breaking a puzzle into small pieces, mixing those pieces together into equations, and sending them to your friends.” “Even if a few pieces get lost, your friends can still put the whole puzzle together from the pieces they receive. Rather than look for specific pieces, you look for just enough pieces,” she said. RLNC technology can help blockchains overcome “critical bottlenecks in scalability” by “encoding data into mathematical equations, enabling faster transmission, reduced bandwidth usage, lower barriers to entry for flexnodes and more reliable delivery,” said Médard. Médard co-founded Optimum with Nancy Lynch, an adviser and co-inventor of the Byzantine Fault Tolerant consensus, after “several years of witnessing the rise and maturation of Web3,” she said. “[The] vision is to bring the efficiency of traditional computer memory (RAM) to decentralized networks, laying the foundation for a breakthrough in Web3 infrastructure.” Related: The future of Ethereum scaling lies in hardware, not software “Scale or Fail” RLNC’s potential use case in Web3 has attracted notable backers, several of whom invested in Optimum as angel investors. They include Polygon co-founder Sandeep Nailwal, Wormhole co-founder Robinson Burkey, Polychain chief technology officer Abhijeet Mahagaonkar, Bitget CEO Gracy Chen and Arthur Cheong, the founder and CEO of DeFiance Capital. Professor Médard told Cointelegraph that scalability breakthroughs in Web3 are needed, especially as blockchain adoption continues to grow for the “purposes of payments, financial instruments and even diversification of national government strategies.” “We believe this trend will continue, and as usage and demand increase, blockchains will need to scale or they will fail,” she said. Scalability remains one of the industry’s biggest bottlenecks, having plagued the development of both Bitcoin and Ethereum at various points over their history. Competing networks have vowed to fix scalability issues stemming from mass consumer adoption, though their track record has been far from perfect. Against this backdrop, the crypto payments landscape has evolved significantly in recent years, shifting from tokens to stablecoins that are much faster and cheaper. Stablecoins have emerged as one of blockchain’s most popular use cases, especially for payments and cross-border remittances. Source: DefiLlamaAn August report by wealth manager Bernstein said Solana is a leading network for stablecoin adoption, but even it struggles to scale with growing payment and remittance demand. Although Solana has piloted stablecoin payments with Visa and Shopify, it’s unclear whether the blockchain can facilitate mainstream adoption without a massive boost in capacity, Bernstein said. Magazine: How crypto laws are changing across the world in 2025
Published on 3/14/2025 at 7:13:45 PM
CoinTelegraph
US House kills IRS DeFi broker rule, Solana won’t cut 80% inflation rate: Finance Redefined
In a significant regulatory development for the crypto industry, the United States House of Representatives voted to nullify a bill that threatened the privacy-preserving properties of decentralized finance (DeFi) protocols. In the wider crypto space, one of the Solana network’s most significant governance proposals was rejected; it sought to implement a mechanism to reduce Solana’s inflation rate by about 80%. US House follows Senate in passing resolution to kill IRS DeFi broker rule The US House of Representatives voted to nullify a rule requiring decentralized finance (DeFi) protocols to report to the Internal Revenue Service. On March 11, the House of Representatives voted 292 for and 132 against a motion to repeal the so-called IRS DeFi broker rule that aimed to expand existing IRS reporting requirements to crypto. All 132 votes to keep the rule were Democrats. However, 76 Democrats joined with the Republicans to repeal it. This followed the Senate’s March 4 vote on the motion, which saw it pass 70 to 27. The rule would have forced DeFi platforms, such as decentralized exchanges, to disclose gross proceeds from crypto sales, including information regarding taxpayers involved in the transactions. After the vote, Republican Representative Mike Carey, who submitted the repeal motion, said, “The DeFi broker rule invades the privacy of tens of millions of Americans, hinders the development of an important new industry in the United States and would overwhelm the IRS.” Congressman Mike Carey speaking after the vote. Source: Mike CareyContinue reading Solana proposal to cut inflation rate by up to 80% fails A proposal to dramatically change Solana’s inflation system was rejected by stakeholders but is being hailed as a victory for the network’s governance process. “Even though our proposal was technically defeated by the vote, this was a major victory for the Solana ecosystem and its governance process,” commented Multicoin Capital co-founder Tushar Jain on March 14. Around 74% of the staked supply voted on proposal SIMD-228 across 910 validators, but just 43.6% voted in favor of it, with 27.4% voting against it and 3.3% abstaining, according to Dune Analytics. It needed 66.67% approval from participating votes to pass and only received 61.4%. Jain added that this was the biggest crypto governance vote ever, by the number of participants and the participating market cap, of any ecosystem, chain or network. “This was a meaningful scaling stress test — a social, rather than technical, stress test — and the network passed despite a wide stratification of diverging opinions and interests.” Continue reading Bitcoin $70,000 retracement part of “macro correction” in bull market — Analysts Bitcoin’s potential retracement to $70,000 may be an organic part of the current bull market, despite crypto investor fears of an early arrival of a bear market cycle. Bitcoin (BTC) fell more than 14% during the past week to close at around $80,708 after investors were disappointed with the lack of direct federal Bitcoin investments in President Donald Trump’s March 7 executive order. It outlined a plan to create a Bitcoin reserve using cryptocurrency forfeited in government criminal cases. Despite the drop in investor sentiment, cryptocurrencies and global markets remain in a “macro correction” as part of the bull market, according to Aurelie Barthere, principal research analyst at the Nansen crypto intelligence platform. BTC/USD, 1-month chart. Source: CointelegraphMost cryptocurrencies have broken key support levels, making it hard to estimate the next key price levels, the analyst told Cointelegraph, adding: “This is a macro correction (US tech will be down by 3% in the future, as discussed), so we have to monitor BTC. Next level will be $71,000 - $72,000, top of the pre-election trading range.” The analyst added: “We are still in a correction within a bull market: Stocks and crypto have realized and are pricing; a period of tariff uncertainty and fiscal cuts, no Fed put. Recession fears are popping up.” Continue reading Calls for stricter rules on political memecoins after $4 billion Libra collapse Industry voices warned that politically endorsed cryptocurrencies must adopt stronger investor protections and liquidity safeguards to prevent another significant market collapse. Investor sentiment remains shaken after the Libra (LIBRA) token, which was endorsed by Argentine President Javier Milei, suffered a $4 billion market cap wipeout due to insider cash-outs. According to blockchain analytics firm DWF Labs, at least eight insider wallets withdrew $107 million in liquidity, triggering the massive collapse. Source: Kobeissi LetterTo avoid a similar meltdown, tokens with presidential endorsements will need more robust safety and economic mechanisms, such as liquidity locking or making the tokens in the liquidity pool non-sellable for a predetermined period, DWF Labs wrote in a report shared with Cointelegraph. The report stated that tokens from high-profile leaders also need launch restrictions to limit participation from crypto-sniping bots and large holders or whales. “Limiting bot and whale activity is essential in limiting the impact of individuals acting on insider information to corner a large percentage of the token supply,” according to Andrei Grachev, managing partner at DWF Labs. Continue reading Hyperliquid ups margin requirements after $4 million liquidation loss Hyperliquid, a blockchain network specializing in trading, increased margin requirements for traders after its liquidity pool lost millions of dollars during a massive Ether (ETH) liquidation, the network said. On March 12, a trader intentionally liquidated a roughly $200 million Ether long position, causing Hyperliquid’s liquidity pool, HLP, to lose $4 million, unwinding the trade. Starting March 15, Hyperliquid will require traders to maintain a collateral margin of at least 20% on certain open positions to “reduce the systemic impact of large positions with hypothetical market impact upon closing,” Hyperliquid said in a March 13 X post. The incident highlights the growing pains confronting Hyperliquid, which has emerged as Web3’s most popular platform for leveraged perpetual trading. Hyperliquid has adjusted margin requirements for traders. Source: HyperliquidHyperliquid said the $4 million loss was not from an exploit but rather a predictable consequence of the mechanics of its trading platform under extreme conditions. Continue reading DeFi market overview According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the red. Of the top 100, the Hedera (HBAR) token fell over 24%, marking the biggest weekly decrease, followed by JasmyCoin (JASMY) down over 21% over the past week. Total value locked in DeFi. Source: DefiLlamaThanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.
Published on 3/14/2025 at 7:00:00 PM
CoinTelegraph
BlackRock now holds over 567,000 BTC, valued at over $47 billion
BlackRock, the world’s largest asset manager with approximately $11.6 trillion in assets under management, currently holds over 567,000 Bitcoin (BTC), valued at over $47.8 billion — making the asset manager one of the largest holders of BTC in the world. According to Arkham Intelligence, the asset manager’s most recent BTC acquisition occurred on March 14 when a Coinbase Prime wallet transferred 268 BTC, valued at over $22 million, to the asset manager’s iShares Bitcoin ETF (IBIT) wallet. Tracking onchain funds to and from BlackRock. Source: Arkham Intelligence Data from Arkham also shows that the asset manager holds over 1.2 million Ether (ETH), valued at over $2.3 billion, roughly 70 million of the USDC (USDC) stablecoin and a long list of altcoins. The Bitcoin exchange-traded funds (ETFs) are widely cited as the most successful ETF launch in history, as asset managers like BlackRock drive tens of billions in liquidity to the crypto markets and disrupt the cyclical capital rotation that characterizes crypto investment. BlackRock’s crypto holdings. Source: Arkham IntelligenceRelated: BlackRock Bitcoin fund sheds $420M as ETF losing streak hits day 7 Crypto ETFs experience four weeks of outflows Crypto ETFs experienced four consecutive weeks of outflows in February 2025 and early March due to macroeconomic uncertainty and fears over a prolonged trade war. According to CoinShares, outflows from the recent market downturn totaled $4.75 billion, with the week of March 9 recording a total of $876 million in outflows. BlackRock’s iShares Bitcoin fund experienced $193 million in outflows for the week of March 9, with all BTC ETFs recording $756 million in month-to-date outflows. Weekly crypto fund flows show a recent downturn featuring four weeks of consecutive outflows. Source: CoinSharesDespite the heightened volatility and macroeconomic uncertainty, BlackRock added IBIT to its model portfolio in February 2025. BlackRock’s model portfolios are preset investment plans that feature a range of diversified financial instruments and different risk profiles. The portfolios are promoted to asset managers, who pitch the preset investment plans to investors. The inclusion of an ETF or an asset in the model portfolio can significantly boost inflows into the asset by attracting fresh capital. In the case of IBIT, including the ETF in a preset investment portfolio will expose investors, who may take a more passive approach, to Bitcoin without those investors having to self-custody the digital asset or make any onchain transactions. Magazine: Bitcoin ETFs make Coinbase a ‘honeypot’ for hackers and governments: Trezor CEO
Published on 3/14/2025 at 6:45:00 PM
CoinTelegraph
Growth in Bitcoin and stablecoin adoption could accelerate dedollarization
The US dollar has long reigned as the world’s primary reserve currency and the default choice for global trade and international transactions. But its dominance is now facing growing scrutiny as shifting geopolitical and economic forces—and concerns over the potential weaponization of the greenback—push more countries to accelerate efforts to loosen their dependence on the dollar. By almost every measure, the US dollar’s command of the global economy is staggering. Although the country accounts for roughly 25% of global GDP, its currency reigns over nearly 60% of global foreign exchange reserves—far outpacing its nearest rival, the euro. But this dominance is increasingly under pressure, with the strategic use of economic sanctions in the past leading some countries to seek alternatives, even as US President Donald Trump regularly threatens 100% tariffs on countries that actively seek to substitute the greenback. In Russia, whose access to the SWIFT payment platform is crippled by sanctions, companies have been using cryptocurrencies as a means to skirt restrictions, turning to Bitcoin and other digital assets to conduct cross-border business. While crypto was barred as illegal by the country´s central bank years ago, recent changes to the regulation have paved the way for corporations to embrace cryptocurrencies since late last year. The country permitted the use of cryptocurrencies in foreign trade and has taken steps to make it legal to mine cryptocurrencies, including Bitcoin. Bitcoin, sanctions and the push for dedollarization Since Bitcoin’s inception, crypto advocates have been fixated on “dedollarization,” often described as the push to reduce the US dollar’s dominance as the global reserve currency. The term broadly refers to moving away from the dollar in key financial and trade activities, including oil and commodity transactions (the petrodollar system), foreign exchange reserves, bilateral trade agreements, and investments in dollar-denominated assets. A 2024 paper by Morgan Stanley’s head of Digital Asset Markets, Andrew Peel, suggested that the rise of digital currencies presents “opportunities to both erode and reinforce” the US dollar’s dominance, with the potential to significantly alter the global currency landscape. Still, while digital assets—most notably stablecoins— are increasingly gaining traction, the crypto market’s dedollarization expectations look premature. While Bitcoin is increasingly seen as a strategic reserve asset, experts caution that it’s still too soon to call it a true alternative to the US dollar. Countries like El Salvador have embraced Bitcoin aggressively, with the asset now making up about 15% to 20% of the nation’s total reserves. The US has reportedly considered similar moves, but widespread adoption remains limited, and questions persist about whether such steps would undermine the dollar rather than support it. According to Bitcoin Depot CEO Brandon Mintz, “For Bitcoin to become a true alternative to the USD, it would require broader mainstream adoption, clearer regulatory frameworks, and more scalable infrastructure.” Currently, Bitcoin acts more like a hedge and a store of value than a dollar replacement, but its role could shift as global financial dynamics evolve. Factors like inflation and geopolitical tensions, Mintz said, could drive more interest. While institutional adoption and cross-border use are on the rise, Mintz said that it remains to be seen “whether Bitcoin can genuinely challenge the dominance of the dollar as this will depend on how these trends develop over time.” Related: 3 reasons why Bitcoin sells off on Trump tariff news Despite its growing appeal, Bitcoin’s volatility remains a significant challenge. According to the World Gold Council, Bitcoin exhibits considerably higher volatility than gold and shows a greater correlation with Nasdaq tech stocks than with traditional safe-haven assets. Gold and major asset 5-year average daily volatility - annualized. Source: World Gold Council.Eswar Prasad, a trade professor at Cornell University, told Cointelegraph, “Decentralized cryptocurrencies such as Bitcoin still have highly volatile values, rendering them unsuitable as mediums of exchange or as reserve currencies.” US dollar global foreign reserves decline Since the end of World War II, the US dollar has reigned as the world’s dominant currency, powering around 88% of global trade transactions in 2024. The dollar’s status as the leading international currency is well-established. According to the International Monetary Fund, as of the third quarter of 2024, central banks held about 58 percent of their allocated reserves in US dollars—much of it in cash and US bonds. This is significantly higher than the euro, second in the race, which accounts for as much as 20% Allocated foreign exchange reserves by central banks. Source: International Monetary Fund While the US dollar remains the dominant global currency due to its stability, widespread acceptance in international trade and finance, and status as a key reserve asset for central banks, there are signs that its reign may be waning. The percentage of global foreign reserves held in dollars has diminished from over 70% in the early 2000s to below 60%. Percentage of global FX reserves held in US dollars. Source: International Monetary FundThe turning point came after February 2022 when the US froze $300 billion of Russia’s liquid foreign exchange reserves held in the US and NATO countries. While many US allies backed the move, it also sent shockwaves through global markets, highlighting the risk that Washington could weaponize the dollar against not just adversaries but potentially allies whose policies clash with American interests. Citing the use of sanctions and how sanctioned countries react, an International Monetary Fund blog post in 2024 said, “We have found that financial sanctions when imposed in the past, induced central banks to shift their reserve portfolios modestly away from currencies, which are at risk of being frozen and redeployed, in favor of gold, which can be warehoused in the country and thus is free of sanctions risk.” Do stablecoins actually reinforce dollarization? Despite efforts by BRICS+ nations to counteract US dollar dominance, the dollar’s value has remained strong in recent years. The US Dollar Index is up roughly 8% over the past five years. In the crypto sector, stablecoins have emerged as some of the fastest-growing digital assets, often cited as a potential solution for cross-border transactions. However, most stablecoins are still pegged to the US dollar. Currently, the stablecoin market cap stands at $233 billion, with US-pegged stablecoins such as Tether’s USDT dominating 97% of the sector, according to CoinGecko data. This overwhelming reliance on USD-backed stablecoins suggests that rather than undermining dollar dominance, digital assets may actually reinforce it. “With USD-linked stablecoins at the core of this digital ecosystem, we have a unique chance to extend US financial influence globally—if policymakers act now,” Cody Carbone, president of Digital Chamber, a US-based blockchain advocacy association, said on X. The emergence and widespread adoption of central bank digital currencies (CBDCs) could disrupt some cryptocurrencies, particularly stablecoins, by providing efficient and low-cost digital payment alternatives. “A widely accessible digital dollar would undercut the case for privately issued stablecoins, though stablecoins issued by major corporations could still have traction,” said Prasad. Still, Prasad emphasized that no viable alternative is poised to displace the US dollar as the dominant global reserve currency. “The dollar’s strengths lie not just in the depth and liquidity of US financial markets but also in the institutional framework that underpins its status as a safe haven.” This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Published on 3/14/2025 at 6:30:00 PM
CoinTelegraph
Crypto influencer sentenced to 45 months in prison for wire fraud
Thomas John Sfraga, also known as “TJ Stone,” received 45 months in prison for wire fraud and was ordered to pay more than $1.3 million in forfeiture as part of a scheme targeting crypto investors. In a March 14 notice, the US Justice Department said Sfraga was sentenced in the US District Court for the Eastern District of New York (EDNY) for wire fraud following a May 2024 guilty plea. Court filings stated that the influencer and podcaster claimed he was the owner of businesses — including Vandelay Contracting, a name based on a running joke from the television series Seinfeld — and the emcee of many crypto events in New York City. “[...] Sfraga convinced a victim to invest in a fictitious cryptocurrency ‘virtual wallet,’” said the Justice Department. “He promised the victims returns on their investments as high as 60% in three months. In reality, however, Sfraga used the money entrusted to him by the victims for his own benefit, to pay expenses, and to pay earlier victims and business associates.” Sfraga’s case was one of many involving crypto-related crimes continuing to be pursued in the jurisdiction following the appointment of John Durham as interim US Attorney by President Donald Trump. Braden John Karony, former CEO of SafeMoon, who also faces EDNY criminal charges, requested in February that his criminal trial for securities fraud conspiracy, wire fraud conspiracy and money laundering conspiracy be pushed based on the administration’s approach to crypto enforcement. The “Seinfeldian” scheme, according to Durham, was not the first time the crypto industry was connected to the popular sitcom. Comedian Larry David, co-creator of the show, starred in a Super Bowl ad for defunct cryptocurrency exchange FTX in 2022. He later said he was “an idiot” for endorsing the company and lost a lot of money after the price of specific tokens dropped. Related: Why comedian TJ Miller wants to be a trustworthy face for Bitcoin Since Trump took office on Jan. 20, some high-profile defendants in criminal cases involving cryptocurrency have reportedly been looking into appealing to the US president for a pardon. Among those reportedly seeking pardons were former FTX CEO Sam Bankman-Fried, currently serving a 25-year sentence following a 2023 conviction, and former Binance CEO Changpeng Zhao, who served a four-month sentence in 2024 — though he denied reports of a potential pardon. Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
Published on 3/14/2025 at 6:20:42 PM
CoinTelegraph
Bitcoin bull market in peril as US recession and tariff worries loom
In the first three months of his presidency, Donald Trump has ignited trade tensions by announcing tariffs on Canada, Mexico, and China and the result has been unexpected turmoil in US and global markets. The fallout from the tariffs has been relatively swift, and the impact has been felt across the crypto market. As of March 8, the US president had backed away from some plans to impose tariffs on certain Mexican and Canadian goods—another twist in the rollercoaster of US trade policy that continues to shake markets. Singapore crypto trading firm QCP Capital said in a note. “This week’s crypto markets have been nothing short of a roller coaster. With macro conditions in flux, crypto remains tightly linked to equities, with price action reflecting broader economic shifts.” The wild swings underscore the volatility ahead for cryptocurrencies—often seen as high-risk assets—as the Trump administration tests the limits of economic and foreign policy and serves as a cautionary tale as uncertainty pervades markets. In a post on X, former US Treasury Secretary Lawrence Summers said that […] tariff policy has already taken $2 trillion off the value of the US stock market,” and Summers suggested that these measures were “ill-conceived” and that they would undermine US competitiveness. “No wonder Wall Street’s fear gauge is up by one-third.” Volatility index (VIX) price action. Source: Yahoo! Finance.While tariffs and Trump’s market-moving policy announcements may create a sense of impending doom, their impact on the future of the crypto sector remains in question. If a trade war weakens the US dollar through inflation, Bitcoin could actually benefit, says Eugene Epstein, head of trading and structured products at Moneycorp. Investors fleeing depreciating fiat currencies may turn to crypto, and if tariff-hit nations devalue their currencies in response, Bitcoin could serve as a vehicle for capital flight. Unlike traditional markets, Bitcoin trades 24/7 and reacts instantly to macroeconomic shifts, making it highly vulnerable to risk-off sentiment. “Sentiment-wise, the primary drivers of crypto will continue to be the status of a federal crypto reserve as well as overall risk sentiment. If US equities continue falling it is hard to envision a strong crypto market, at least in the near term,” Epstein said. Many in the crypto community expected Trump’s return to the White House to send Bitcoin soaring, and initially, it did—rising from $69,374 on Election Day to a record $108,786 by Inauguration Day. But since then, BTC has tumbled, dropping below $80,000 by late February and again in March. The price weakness comes despite the administration’s pro-crypto stance, including plans for a strategic crypto reserve and market-structure reforms. Cumulative flows into Bitcoin Spot ETFs reached record highs following Trump’s victory, with investors pouring over $10 billion into these instruments in the aftermath of the election, according to data by Farside Investors. However, growing concerns over a potential tariff war seem to have taken a toll on market sentiment and, by extension, on cryptocurrencies. Since early February, Bitcoin ETFs have seen significant outflows as uncertainty looms over the broader economic landscape. At the same time, safe haven assets like gold, have actually responded positively amid the tariff war. Spot Bitcoin ETF flows. Source: Farside Investors. This isn’t the first time President Trump has wielded tariff threats as a bargaining chip and some traders believe the market will adjust to focus on fundamentals over the blunt use of tariffs as a way to force policy changes among US allies. That’s why some traders in the industry choose to not base their strategies solely on tariffs. For Bob Walden, head of Trading at Abra, tariffs are “just a headline” that influences short-term investor sentiment but doesn’t alter the market’s fundamental conditions. “To me, tariffs are a red herring. It is something Trump uses as a bargaining chip, and I do not think they mean anything to crypto. They initially caused a drawdown—tariffs caught a market that was long at the top and over-leveraged looking for an exciting move—but that was a correlation, not the causation.” Related: 3 reasons why Bitcoin sells off on Trump tariff news Walden points to Trump’s fiscal austerity program as the real driver of crypto markets. “That is what everyone’s looking at in the TradFi space. Tariffs are just another piece in the fiscal austerity trade that’s happening across global markets—that is actually what’s influencing crypto a lot more, as fiscal austerity means less cash out there to deploy.” This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Published on 3/14/2025 at 5:30:00 PM
CoinTelegraph
Argentina finalizes rules for virtual asset providers
Argentina’s securities regulator has finalized rules for virtual asset service providers (VASPs), which cover general codes of conduct and custody requirements for cryptocurrency exchanges and other platforms facilitating digital asset transactions. The regulations were published on March 13 by the National Securities Commission, also known as CNV, under General Resolution No. 1058. According to a translated version of the announcement, the regulations impose “obligations regarding registration, cybersecurity, asset custody, money laundering prevention, and risk disclosure” on VASPs operating in the country. The stated goal of the rules is to guarantee “transparency, stability, and user protection in the crypto ecosystem,” the announcement said. Argentine tax lawyer Diego Fraga said the final guidelines include mandatory separation of company and client funds, annual audits and monthly reporting with the CNV. Source: Diego FragaSince 2024, VASPs operating in Argentina have been required to register with the registry of virtual asset service providers, also known as PSAV. According to the new rules, registrations may be revoked for noncompliance, and any company operating without registration may be blocked by court order. Individuals who are registered with the PSAV have until July 1 to conform to the new rules. Companies incorporated in Argentina have until Aug. 1, and those incorporated abroad have until Sept. 1. “Those who do not comply with the established requirements and deadlines will not be able to operate in Argentina,” said Roberto E. Silva, the CNV’s president. Related: Argentina’s crypto adoption hopes dim after Milei’s LIBRA memecoin scandal Despite LIBRA scandal, crypto adoption rising in Argentina As global law firm DLA Piper explained, Argentina’s push for clearer crypto regulations intensified one year ago after the CNV implemented registration requirements and said crypto issuers would be subject to securities laws. The regulatory pivot came amid a growing wave of crypto adoption in the country, which was partly driven by the rapid depreciation of the Argentine peso. By mid-2024, crypto adoption in Argentina had surged as locals flocked to stablecoins like Tether’s USDt (USDT). An October Chainalysis report determined that Argentina had overtaken Brazil as the largest Latin American country for crypto inflows at roughly $91 billion between July 2023 and June 2024. Argentina tops Latin America’s crypto adoption list in terms of value received between July 2023 and June 2024. Source: Chainalysis Crypto adoption trends remain positive in the face of the LIBRA scandal involving President Javier Milei. As Cointelegraph reported, Milei publicly endorsed the memecoin before it suddenly plunged in value, fueling allegations of a rug pull. Magazine: Caitlyn Jenner memecoin ‘mastermind’s’ celebrity price list leaked
Published on 3/14/2025 at 4:55:43 PM
CoinTelegraph
Bolivia to use crypto to pay for energy imports — Report
Bolivia’s state-owned energy firm YPFB is planning to use cryptocurrency to pay for energy imports, according to a March 13 report from Reuters. The move comes as the South American nation faces a shortage of foreign currency reserves and a dwindling supply of domestic gas production. A spokesperson for YPFB said that a system had been put in place to use cryptocurrency to purchase energy imports after the government approved the use of digital assets to meet the country’s demand. While YPFB has not used the system yet, it plans to do so. The report does not reveal what cryptocurrency will be used for the payments. Stablecoins, which are digital assets pegged to fiat currency, are often used to make cross-border transactions, though it is unclear if that will be the case in Bolivia. The fuel shortage in Bolivia has led to protests and the threat of strikes among some of the nation’s workers, including farmers, who say the lack of fuel threatens their summer harvest. Only 35%–50% of the country’s public transport system is functional. Alejandro Gallardo, the energy and hydrocarbons minister, said there are challenges due to foreign currency shortages. The spokesperson for YPFB noted that the new purchasing system was designed to support national fuel subsidies in the country amid the shortage of foreign currency. “From now on, these (cryptocurrency) transactions will be carried out,” they said. Related: Vibe killers: Here are the countries that moved to outlaw crypto in the past year Crypto adoption in Bolivia increases In June 2024, Bolivia’s central bank, Banco Central de Bolivia, lifted its ban on Bitcoin (BTC) and crypto payments, allowing financial institutions to transact with digital assets. The ban had been in place since 2014. In September 2024, Bolivia reported a 100% rise in virtual asset trading, with roughly $15.6 million worth of assets traded on a monthly basis between July and September. The $48.6 million traded was largely made up of stablecoins. Stablecoins are often used in developing countries whose local currency has experienced a high degree of devaluation or where there’s a shortage of foreign currency. Related: Stablecoins will see explosive growth in 2025 as world embraces asset class Stablecoin use gained further momentum in Bolivia in October 2024 when local bank Banco Bisa introduced a stablecoin custody service. That service, which was supported by the country’s financial regulator, allows the nation’s residents to buy, sell and trade Tether’s USDt (USDT), a US dollar-pegged stablecoin. Cointelegraph wrote in September 2016 that Bolivia had much to gain from adopting cryptocurrencies. At that time, much of that country’s citizens were unbanked, with just 11% of residents using a debit card to make payments and only 5% using credit cards. However, the country continued upholding its ban until 2024, calling crypto a pyramid scheme in May 2017 and arresting crypto advocates.Magazine: Bitcoin payments are being undermined by centralized stablecoins
Published on 3/14/2025 at 4:21:24 PM
CoinTelegraph
Price analysis 3/14: BTC, ETH, XRP, BNB, SOL, ADA, DOGE, PI, LEO, LINK
Bitcoin (BTC) has risen back above the 200-day simple moving average ($83,754), indicating that the bulls are attempting a comeback. The failure of the bears to capitalize on the drop below the 200-day SMA shows that selling dries up at lower levels. However, Bitcoin may not be out of the woods yet. Crypto analyst Matthew Hyland said in a video posted to X that Bitcoin needs a weekly close above $89,000 to confirm a bottom. A move above $89,000 could liquidate roughly $1.60 billion in short positions, according to CoinGlass data. If that does not happen, Hyland warns that Bitcoin will fall into the $74,000 to $69,000 range. Crypto market data daily view. Source: Coin360Buyers have a challenging task ahead of them. The inflows of $13.3 million into US spot Bitcoin exchange-traded funds (ETFs) on March 12 could not be sustained, and the ETFs recorded outflows of $135.2 million on March 13, per Farside Investors data. This shows that the investors remain nervous and are pressing the sell button on new tariff threats and actions by US President Donald Trump. Could Bitcoin surge to $100,000, pulling select altcoins higher? Let’s analyze the charts of the top 10 cryptocurrencies to find out. Bitcoin price analysis Bitcoin bulls are trying to start a recovery but are expected to face significant resistance in the zone between the 200-day SMA and the 20-day exponential moving average ($86,717). BTC/USDT daily chart. Source: Cointelegraph/TradingViewIf buyers drive the price above the 20-day EMA, it will signal that the break below the 200-day SMA may have been a bear trap. The BTC/USDT pair could rise to the 50-day SMA ($93,876) and, after that, to the $100,000 psychological barrier. Conversely, if the price turns down from the overhead resistance zone with force, it will indicate that the bears are in command. That increases the likelihood of a drop to the vital support at $73,777. Buyers are expected to fiercely defend the $73,777 level because a drop below it may pull the pair to $67,000. Ether price analysis Ether (ETH) has been trading in a tight range between $1,963 and $1,754, indicating a tough battle between the bulls and the bears. ETH/USDT daily chart. Source: Cointelegraph/TradingViewThe relative strength index (RSI) is showing early signs of forming a positive divergence. If the price rises above $1,963, the ETH/USDT pair could climb to the breakdown level of $2,111. This level may attract aggressive selling by the bears, but if the bulls persist, the pair could rally to the 50-day SMA ($2,597). This optimistic view will be negated if the price turns down from the current level of $2,111 and breaks below $1,754. That will signal the resumption of the downtrend. The pair may then nosedive to $1,500. XRP price analysis XRP (XRP) rebounded off the $2 support on March 11 and reached the 20-day EMA ($2.35) on March 13. XRP/USDT daily chart. Source: Cointelegraph/TradingViewThe bears are trying to halt the recovery at the 20-day EMA, but the bulls have kept up the pressure. That increases the possibility of a break above the 20-day EMA. The XRP/USDT pair may then rise to $2.64. If this level is cleared, the pair could rally to $3. Contrarily, if the price turns down sharply from the current level, it will suggest that the sentiment remains negative. The pair may retest the crucial $2 support, and if this level gives way, the pair will complete a bearish head-and-shoulders pattern. That may sink the pair to $1.28. BNB price analysis BNB (BNB) rose above the 20-day EMA ($591) on March 13, but the bulls could not sustain the higher levels, as seen from the long wick on the candlestick. BNB/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls are again trying to push the price above the 20-day EMA. The BNB/USDT pair could challenge the 50-day SMA ($624) if they can pull it off. A break and close above the 50-day SMA will suggest that the correction may be over. The pair could then attempt a rally to $686. If bears want to prevent the upside, they will have to yank the price below the $500 support. The pair may then fall to $460, which is expected to attract aggressive buying by the bulls. Solana price analysis Solana (SOL) has been trading above the $120 level, but the bulls have failed to push the price above $132. SOL/USDT daily chart. Source: Cointelegraph/TradingViewIf the price skids below $120, the SOL/USDT pair could drop to $110. This is a critical support to watch out for because a break and close below it may start a downward move to $98 and then to $80. On the upside, a break and close above the 20-day EMA suggests that the selling pressure is reducing. The pair could rally to the 50-day SMA ($178), where the bears are expected to mount a strong defense. Cardano price analysis Cardano (ADA) was rejected from the 20-day EMA ($0.77) on March 12, signaling that the bears are selling on rallies. ADA/USDT daily chart. Source: Cointelegraph/TradingViewThe ADA/USDT pair could drop to the uptrend line, which is an important level for the bulls to defend. If the price bounces off the uptrend line with strength, it will improve the prospects of a break above the moving averages. If that happens, the pair could rise to $1.02. This positive view will be invalidated in the near term if the price turns down and breaks below the uptrend line. That could start a slide to $0.58 and subsequently to the Feb. 3 intraday low of $0.50. Dogecoin price analysis Dogecoin (DOGE) bounced off the $0.14 support on March 11, indicating that the bulls are trying to defend the level. DOGE/USDT daily chart. Source: Cointelegraph/TradingViewThe relief rally is expected to face selling at the 20-day EMA ($0.19). If the price turns down sharply from $0.19, it increases the possibility of a break below $0.14. The DOGE/USDT pair could then plummet to $0.10. Related: Bitcoin-to-gold ratio breaks 12-year support as gold price hits a record $3K The first sign of strength will be a break and close above the 20-day EMA. That could open the doors for a rally to the 50-day SMA ($0.24). Sellers will try to stall the up move at the 50-day SMA, but if the bulls pierce the resistance, the pair could climb to $0.29. Pi price analysis Pi’s (PI) recovery stalled at $1.80 on March 13, indicating that the bears are selling on every minor rally. PI/USDT daily chart. Source: Cointelegraph/TradingViewThe bears will try to sink the price to $1.20, which is a crucial level to watch out for. If the price rebounds off $1.20, it will indicate a possible range formation. The PI/USDT pair could oscillate between $1.20 and $1.80 for some time. Contrary to this assumption, if the price continues lower and breaks below $1.20, it will signal the resumption of the downward move. The pair could descend to the 78.6% retracement level of $0.72. UNUS SED LEO price analysis UNUS SED LEO (LEO) has been trading near the $10 overhead resistance, indicating that the bulls have kept up the pressure. LEO/USD daily chart. Source: Cointelegraph/TradingViewA break and close above $10 will complete a bullish ascending triangle pattern, which could start an upmove toward the pattern target of $12.04. The bears are likely to have other plans. They will try to pull the price to the uptrend line, which is an important level to watch out for. If the price rebounds off the uptrend line, it will signal that the LEO/USD pair may remain inside the triangle for a while. The bears will gain the upper hand on a break and close below the uptrend line. That could sink the pair to $8.84 and later to $8.30. Chainlink price analysis Chainlink (LINK) plunged and closed below the support line of the descending channel pattern on March 10, but the bears could not sustain the lower levels. LINK/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls have pushed the price back into the channel on March 14, but their efforts are likely to be met with strong selling at the 20-day EMA ($15.14). If the price turns down from the 20-day EMA, the bears will attempt to sink the LINK/USDT pair below $11.85. If they manage to do that, the pair could decline to $10. On the contrary, a break and close above the 20-day EMA will signal that the markets have rejected the break below the channel. The pair may then climb to the 50-day SMA ($18.27). This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published on 3/14/2025 at 4:10:21 PM
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